Tibet to improve financial services for smaller firms
Staff members work on a highland barley pastry production line at a company in Lhorong County, Chamdo Prefecture, southwest China's Tibet Autonomous Region, July 24, 2021. (Xinhua/Li Xin)
LHASA, Oct. 15 (Xinhua) -- Southwest China's Tibet Autonomous Region has introduced a raft of measures to improve financial services to micro, small, and medium-sized enterprises, according to local authorities.
The move aims to guide financial institutions to optimize resource allocation and improve service to smaller firms, said the Lhasa central sub-branch of the People's Bank of China, the country's central bank.
Banking institutions should ensure relatively fast growth of loans to micro, small, and medium-sized enterprises, and the year-on-year growth of inclusive lending to micro and small firms should be no less than 40 percent.
The institutions should also benefit more micro and small firms with their loans and ensure that the financing cost will steadily decrease, said the sub-branch.
The region will improve information-sharing between banks and companies and encourage commercial banks to strengthen data analysis and make more informed lending decisions.